How to extend the insurance policy during the quarantine?

During a pandemic coronavirus and quarantine can result not only buckwheat. Very inappropriate for the owner may end (expire) and insurance policy for the yacht.

In most European countries the insurance policy covering the liability of the owner to third parties is required and, accordingly, must act from the first day of owning the yacht. And as a pragmatic sailors buy a boat "for the season", then the current annual policies expire, many "season" in April-may.

Will there be boat owners, the difficulty of renewal of policies during the period of quarantine?

Among boaters demand always enjoyed how the insurance products of Russian companies and European insurance products, depending on the region of operation of the yacht. The situation in the Russian insurance market is as follows: decrees of the President of the Russian Federation on measures taken in connection with the distribution of COVID-19, insurance companies are not directly related to enterprises that are allowed to continue, however the insurance business can be allowed to work legislation at the regional level. So, in some regions, insurance companies related to companies that are allowed to work during the quarantine. In other cases, the insurance company are trying to provide the ability to interact with clients remotely.

In the European market the situation is similar: the insurance company with the debugged even before the lockdown mechanism of interaction with the client without going to the office, continue to provide their services and sell insurance products. But there are companies, including brokers selling insurance products, which still have not established remote customer service and after closing for quarantine are unable to continue working.

If you expire an insurance policy for the yacht, and your insurance broker or the insurance company is not contacted, then it's time to urgently seek alternative proposals. Marina carefully monitored to ensure that insurance policies for boats are based in them, were relevant and required to provide them copies of new policies in advance. Therefore, if your policy expires during the month, an urgent need to think about how to solve the issue with insurance for your boat.

Yacht insurance is not the most simple for the yachtsman task, there are a lot of nuances. Whether to be limited to only the mandatory liability insurance policy or yacht, as property, also to insure? What is a franchise and it always is included in the policy? What are the risks covered by the policy? What else is included in the policy: insurance of the crew, insurance of personal belongings on Board, etc.? Will the insurance company work with a yacht under a flag? All this, for the Russians added to the problem, connected with the secondary economic sanctions of Western countries against Russia: the vast majority of European insurance companies does not take on insurance of the yacht, owned by Russian businesses and individuals.

Company Jonacor Marine ready to help you to choose insurance for your yacht and to insure it is profitable. Having behind more than a decade of experience in the yacht market, we have established direct cooperation with Russian and European insurance companies and has developed tools to graphically compare insurance products, which makes it easy to navigate all of the nuances of marine insurance and choose only reliable partners.

Even if you are from one year to insure the yacht at one and the same company, think: maybe there was a better offer? Specialist of our company will be happy to help you with the selection of the optimal variant. 

Jonacor Marine HELP LINE: +7 (812) 702 47 70